aj485’s Activity

Yesterday

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Boards Post

aj485 replied to the Retirement Investing board. 12:54 AM

Re: Retirement question

I'd ask a financial planner. I think I'd be reluctant to tap that $135K; your planner may have some other thoughts.

To the OP:

If you do decide to draw from your husband's account, I'd suggest consulting a tax guy in order to [more]

Mon Feb 1

NL

Boards Post

aj485 replied to the Real Estate Inv. Trusts: REITs board. 2:08 AM

Re: Centex Harvest State

In general, I would question moving money that had been in FDIC guaranteed CDs into preferred stocks. Why was the money in CDs in the first place? What had those CDs been yielding? Does he understand the risks, compared to what his money had been [more]

Sun Jan 31

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Boards Post

aj485 replied to the Tax Strategies board. 6:51 PM

Re: RMD for IRA and 401(k)

Although legal, don't expect that a previous employer's 401K plan will defer RMDs because of a job with a different employer.

Is that legal? I thought that the law only allowed this exception for current employees.

That said, [more]

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aj485 replied to the Tax Strategies board. 3:11 PM

Re: RMD for IRA and 401(k)

I believe that the RMD for the (traditional) IRA would still apply, but does it also apply for the 401(k)? (Or is that dependent upon the local workplace rules?)

Why does the IRS say "generally"? I had always assumed it was a
[more]

Tue Jan 26

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Boards Post

aj485 replied to the Retire Well on Less board. 12:41 AM

Re: To Buy or Rent?

You would really have to do an analysis of rent vs owning. Many people are opting to rent these days.

And in the OP's case, they would especially need to consider the transactional costs on selling at least one of the homes in a [more]

Sat Jan 23

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Boards Post

aj485 replied to the Tax Strategies board. 11:30 PM

Re: Solar tax credit - section 48

I'm reading https://www.irs.gov/pub/irs-pdf/i3468.pdf - which is where I think section 48 solar credit would go

You are correct. Section 48 Investment Tax Credits (including the [more]

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aj485 replied to the Tax Strategies board. 11:12 PM

Re: Net Investment Income Tax questions

Really? What pub says this? Thank you, this would be awesome!

Pub 523 - Sale of Your Home https://www.irs.gov/pub/irs-pdf/p523.pdf

Marriage. Married individuals [more]

Fri Jan 22

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Boards Post

aj485 replied to the Retire Well on Less board. 6:58 PM

Re: To Buy or Rent?

Welcome to TMF.

I have a question for you: is it too late to be contemplating buying a house in your mid 50s?

No. People in their mid-50s probably buy more houses than people in their mid-20s, so 'too late' isn't really the [more]

Wed Jan 20

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Boards Post

aj485 replied to the Foolish 401(k)s board. 11:04 PM

Re: Frequent adjustment to investment elections.

Just curious how often folks here tinker with the 401k

With the allocations among the various options, not much. I have had a 401(k) with my current employer for about 8 years. I've left the % allocated to the various options the same [more]

NL

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aj485 replied to the Credit Cards and Consumer Debt board. 2:38 AM

Re: 'Make too much to pay my student loan'

Cutting back in other areas sounds like a better idea than insisting that the wife stay home.

I guess I'm not sure where the idea came that anyone was 'insisting' that the wife stay home. I did suggest that it wasn't responsible for [more]

Tue Jan 19

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 8:16 PM

Re: 'Make too much to pay my student loan'

I have to disagree with this - it's too shortsighted. There are more factors - keeping skills up to date in case of spouse job loss,divorce,death, contributing to retirement accounts, etc.

If they are going to make the decision to [more]

Mon Jan 18

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aj485 posted to the Credit Cards and Consumer Debt board. 10:22 PM

'Make too much to pay my student loan'

Sorry about the title on that last post. I have FA'd it. It was supposed to be 'Make too much to pay my student loan'

Well, that's an excuse I hadn't heard before.....

[more]

Sat Jan 16

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Boards Post

aj485 replied to the Bonds & Fixed Income Investments board. 12:20 PM

Re: Baby Bonds

but who would pay a large premium close to maturity knowing they are going to lose that capital right off the bat

Depends on what you call 'large' and 'close to maturity'. If, even after factoring YTW (yield to worst), the debt is [more]

Wed Jan 13

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Boards Post

aj485 replied to the Retirement Investing board. 7:01 PM

Re: Maximum Rollover to Roth IRA

I've recently become aware of a $53,000 limit on *contributions* to retirement accounts, but I don't believe this applies to *rollovers*.

You are correct. The $53,000 limit ($59,000 for those 50 and older) is for contributions to [more]

Tue Jan 12

NL

Boards Post

aj485 replied to the Tax Strategies board. 1:49 AM

Re: Outdated IP PIN

The 2014 taxes have long been filed and the refund received. Soon I will be getting ready to file my 2015 taxes. Would it mess things up to use this number on my 2015 return? Why are they sending me a 2014 number at this late date?

It [more]

Sun Jan 10

NL

Boards Post

aj485 replied to the Retirement Investing board. 1:30 PM

Re: Commission free vs 401k vs Roth

I should have mentioned that I am self employed, so unfortunately no match for me.

Yes, that can play a large part in giving you advice. It appears that most of the advice you originally got was based on the assumption that you had an [more]

Wed Jan 6

NL

Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 8:55 PM

Re: dumb question

I want to repair my credit to finance an eighteen wheeler. I live in texas and I have credit card debt over seven years old that does not show up on credit carma report, $4k from and apartment complex does but that's it. score says [more]

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aj485 replied to the Credit Cards and Consumer Debt board. 8:40 PM

Re: travel rewards

Would a second card cause a similar hit?

That's really hard to say - it will depend on the credit scoring model being used, how much your average account age will change, how much the account inquiries count against you, etc. For [more]

Tue Jan 5

NL

Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 10:43 PM

Re: travel rewards

How many new cards should we apply for? Two each? Four each? More? Should we apply for them all at once or apply for a new one only after we've earned the signing bonus?

Opening multiple new accounts in a short time is looked upon as [more]

NL

Boards Post

aj485 replied to the Tax Strategies board. 3:39 PM

Re: Tax Rate.

I am having trouble arriving at your 9.26% effective tax rate. Could you show the math? How can paying over $10k in taxes on a less than $100k conversion yield less than 10% effective tax rate?

Sorry, it looks like I made a math [more]

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Big gold star, 5000 posts Feste Award Nominee! Old School Fool
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